SMBE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SMBE
Largest movements
- Cash +€111,676
up €111,676 (+4628.5%), from €2,413 to €114,089
mainly Receivables within one year (+€54,861) and Short-term financial debts (+€50,000)
- Receivables within one year -€54,861
down €54,861 (-26.3%), from €208,783 to €153,923
of which Trade receivables: -€58,186
- Tangible fixed assets -€11,530
no longer reported in 2025 (was €11,530)
- Short-term financial debts +€50,000
up €50,000 (+45.5%), from €110,000 to €160,000
- Tax, wage and social debts -€10,153
down €10,153 (-20.6%), from €49,235 to €39,082
- Reserves +€7,399
up €7,399 (+233.8%), from €3,164 to €10,564
- Trade debts -€5,000
down €5,000 (-43.2%), from €11,562 to €6,562
- Financial charges +€31,277
up €31,277 (+118.6%), from €26,367 to €57,644
- Write-downs -€28,416
down €28,416, from €14,208 to -€14,208
- Gross operating margin -€14,897
down €14,897 (-39.7%), from €37,565 to €22,668
- Financial income +€13,953
up €13,953 (+83.0%), from €16,813 to €30,766
- Depreciation -€8,172
no longer reported in 2025 (was €8,172)
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,205 | €290,959 | +€41,754 | +16.8% |
| Fixed assets | 21/28 | €11,530 | - | -€11,530 | |
| Tangible fixed assets | 22/27 | €11,530 | - | -€11,530 | |
| Furniture and vehicles | 24 | €11,530 | - | -€11,530 | |
| Current assets | 29/58 | €237,676 | €290,959 | +€53,284 | +22.4% |
| Stocks and contracts in progress | 3 | €25,648 | €22,804 | -€2,844 | -11.1% |
| Stocks | 30/36 | €25,648 | €22,804 | -€2,844 | -11.1% |
| Amounts receivable within one year | 40/41 | €208,783 | €153,923 | -€54,861 | -26.3% |
| Trade receivables | 40 | €175,843 | €117,657 | -€58,186 | -33.1% |
| Other amounts receivable | 41 | €32,940 | €36,266 | +€3,326 | +10.1% |
| Cash at bank and in hand | 54/58 | €2,413 | €114,089 | +€111,676 | +4628.5% |
| Deferred charges and accrued income | 490/1 | €832 | €144 | -€688 | -82.7% |
| Total equity and liabilities | 10/49 | €249,205 | €290,959 | +€41,754 | +16.8% |
| Equity | 10/15 | €74,889 | €82,289 | +€7,399 | +9.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,164 | €10,564 | +€7,399 | +233.8% |
| Distributable reserves | 133 | €3,164 | €10,564 | +€7,399 | +233.8% |
| Profit (loss) carried forward | 14 | €59,325 | €59,325 | = | 0.0% |
| Amounts payable | 17/49 | €174,316 | €208,671 | +€34,354 | +19.7% |
| Amounts payable within one year | 42/48 | €170,797 | €205,644 | +€34,846 | +20.4% |
| Financial debts | 43 | €110,000 | €160,000 | +€50,000 | +45.5% |
| Credit institutions | 430/8 | €110,000 | €160,000 | +€50,000 | +45.5% |
| Trade debts | 44 | €11,562 | €6,562 | -€5,000 | -43.2% |
| Suppliers | 440/4 | €11,562 | €6,562 | -€5,000 | -43.2% |
| Taxes, remuneration and social security | 45 | €49,235 | €39,082 | -€10,153 | -20.6% |
| Taxes | 450/3 | €49,235 | €39,082 | -€10,153 | -20.6% |
| Accrued charges and deferred income | 492/3 | €3,519 | €3,027 | -€492 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,172 | - | -€8,172 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,208 | -€14,208 | -€28,416 | |
| Other operating charges | 640/8 | €1,080 | €960 | -€121 | -11.2% |
| Gross operating margin | 9900 | €37,565 | €22,668 | -€14,897 | -39.7% |
| Operating profit (loss) | 9901 | €14,105 | €35,917 | +€21,812 | +154.6% |
| Financial income | 75/76B | €16,813 | €30,766 | +€13,953 | +83.0% |
| Recurring financial income | 75 | €16,813 | €30,766 | +€13,953 | +83.0% |
| Financial charges | 65/66B | €26,367 | €57,644 | +€31,277 | +118.6% |
| Recurring financial charges | 65 | €26,367 | €57,644 | +€31,277 | +118.6% |
| Profit (loss) for the period before taxes | 9903 | €4,551 | €9,039 | +€4,488 | +98.6% |
| Income taxes | 67/77 | €3,247 | €1,639 | -€1,607 | -49.5% |
| Profit (loss) for the period | 9904 | €1,304 | €7,399 | +€6,095 | +467.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,304 | €7,399 | +€6,095 | +467.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.